Monthly Income Scheme (MIS) 2024 Interest Rates & Account Opening Form

Post Office Monthly Income Scheme 2024 Account Opening Form at, check PO MIS calculator, interest rate, deposits, premature withdrawal, tax benefits, nomination, complete details here

Monthly Income Scheme (MIS) 2024 Interest Rates & Account Opening Form

Post Office Monthly Income Scheme MIS

Post Office Monthly Income Scheme 2024 is a best five year investment with maximum ceiling of Rs. 9 lakh under single ownership and Rs. 15 lakh under joint ownership. Central government now fixes interest rate at 7.4% per annum, payable monthly. Subscribers can calculate their interest earned through MIS calculator and also see bonus amount after every month. All those candidates who wants to earn regular income every month can make investment.

PO-MIS investment does not qualify for any tax benefit under s/c 80 C and interest earned is fully taxable. Account may be closed on expiry of 5 years from the date of opening by submitting prescribed application form with pass book at concerned Post Office. In case the account holder dies before the maturity, the account may be closed and amount will be refunded to nominee/legal heirs. Interest will be paid up to the preceding month, in which refund is made.

This type of investment keeps your amount intact, provide better guaranteed returns along with ensuring fixed monthly income. Interested candidates can download the monthly income scheme Application Form and open their MIS savings account. People can Compare All Post Office Schemes before making investment.

Monthly Income Scheme Interest Calculator

Monthly Income Scheme Offers an annual interest rate of 7.4% p.a. So, an amount of 1,00,000 deposited in mis account yields a monthly payout of Rs. 616.667 every month. People can see PO Monthly Income Scheme Calculator to calculate their regular monthly income.

Just click this link and enter the values in the un-shaded cells under POMIS Calculator section. Then the candidates will get all the details about monthly income, premature withdrawal amount at different intervals, bonus and principal amount at maturity.

Monthly Income Scheme (MIS) Account Details

Either of the parents can open this best monthly income scheme account in the name of minor below 10 years of age. The important features of this PO monthly income scheme are as follows:-

People can withdraw money directly from PO or can get credited in their savings account through ECS. People must withdraw their interest on monthly basis. If not so, then the interest earned will not yield any further profit, it sits idle.

Post Office MIS Account Opening Form 2024

All those who want to open mis account can download the Post Office Monthly Income Scheme account opening application form – MIS Account Opening Form

The Post Office Monthly Income Scheme Account Opening Form will appear as shown below:-

Monthly Income Scheme Account Opening Form

Direct Link –

Who can open Monthly Income Scheme Account

(i) a single adult
(ii) Joint Account (up to 3 adults) (Joint A or Joint B))
(iii) a guardian on behalf of minor/ person of unsound mind
(iv) a minor above 10 years in his own name.

Post Office Monthly Income Scheme Deposits

The minimum amount that any individual must deposit is Rs. 1000 and in its multiples of Rs. 1000 thereafter. Minors can invest a maximum amount of Rs. 9,00,000. The maximum amount that any individual can invest is Rs. 9,00,000 in single account. For joint account this limit is Rs. 15 lakh. Moreover in joint account also, the maximum share of any person can be Rs. 9,00,000. All joint account holders shares equal share in mis savings account. In a joint account, all the joint holders shall have equal share in investment.

Deposits/shares in all MIS accounts opened by an individual shall not exceed Rs. 9.00 lakh. Limit for account opened on behalf of a minor as guardian shall be separate. This is the best monthly income scheme of post offices without any risk factor involved.

Post Office Monthly Income Scheme Premature Withdrawal

However, people can opt for premature withdrawal before completing 5 years which is subject to the following conditions.

MIS scheme has a lock-in period of 5 years (w.e.f 1 December 2011). All the subscribers will get fixed monthly income in this duration.

POMIS Eligibility Criteria

The candidates must fulfill the following eligibility criteria to invest in this scheme:-

Any individual can open any number of mis accounts in post offices. However the maximum limit after adding balances in different accounts still remains the same.

MIS Nomination Facility

All the eligible subscribers can open multiple accounts in any post office as well as joint mis accounts. Any individual can open this type of account in name of a minor below 10 years or for themselves. Nomination Facility is available at the time of account opening and even after opening mis account. People can select a nominee at any time they wish before maturity.

MIS savings account facilitate subscriber to operate more than 1 accounts in individual capacity or jointly. After 10 years, minor must convert MIS account in his name. The maximum limit on the deposits made by an individual still holds. People can convert their single account to joint account and vice versa.

Post Office Monthly Income Scheme 2024 Highlights

The important features and highlights of mis savings scheme are as follows:-

For more details about the scheme, please visit the official website


— To download application form in PDF format of all post office savings scheme, please click the link:-
Post Office Schemes Application Form Download

— For more details, visit the official website at

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